Magellan Development
From Wikipedia, the free encyclopedia
Magellan Development Group, LLC is a Chicago real estate and property development company that was formed as a result of a long term corporate partnership between Magellan Development Group and NNP Residential Development.[1]
The company's co-chief executive officers are Joel Carlins and James Loewenberg; the company's president is David Carlins. Magellan Development is responsible for all development activity, while Robin Loewenberg Berger led NNP Residential Division focuses on property management and marketing services. All Magellan and NNP Residential affiliates, including Loewenberg Architects, Joel M. Carlins & Associates, Magellan Marketing Group, Magellan Realty, Titan Commercial and Perl Mortgage operate autonomously within the group structure.
The major accomplishment of their collaboration is the $4 billion, mixed-use Lakeshore East community which reintroduced residential living to Chicago's central business district.[2] The master plan was designed by Skidmore, Ownings, and Merrill; it consists of 28 acres, 4,950 new residences, 2.2 million square feet of commercial space, 1,500 hotel rooms, 770,000 square feet of retail space, a planned elementary school, and a six acre botanical park. It earned a 2002 Honor Award for Regional and Urban Design from the American Institute of Architects.
Magellan Development, LLC has created luxury rental and condominium communities such as the The Tides at Lakeshore East, The Shoreham at Lakeshore East, Grand Plaza, The Park Millennium, One Superior Place, and Dearborn Place. Condominium developments at Lakeshore East include the Aqua, Chicago, The Parkhomes, The Chandler, 340 on the Park, The Regatta, and The Lancaster. Other Lakeshore East developments include The Park at Lakeshore East and the Village Market retail center. In addition, the two organizations that make up Magellan Development have independently developed hotels, retail, office and medical facilities throughout the United States.
In addition to the Lakeshore East community, Magellan Development's portfolio includes buildings in Chicago's River North, Gold Coast, and Near West Side neighborhoods, such as The Park Alexandria, The Caravel, Admiral’s Pointe, The Farallon, 630 North State, 21 West Chestnut, and The Park Newberry Residences.
Magellan Development supplements its real estate and property development with in-house services including construction management, law, brokerage, sales and marketing and public relations.
Crain’s Chicago Business has recently named Magellan Development Group LLC one of Chicago’s top 5 “Largest Homebuilders” in 2007 in addition to naming Magellan as number 113 in the list of “Chicago’s Largest Privately Held Companies”.[3] The company has been responsible for the creation of over 12,000 residential units in Chicago and is known for its philanthropic endeavors and unique Rewards program as well as its luxury properties.
